| Crude Oil (Nov 12) intraday: further advance. |
Pivot: 91.00
Our Preference: LONG positions above 91 with 92.9 & 93.7 as next targets. Alternative scenario: The downside breakout of 91 will open the way to 90.3 & 89.3. Comment: the immediate trend remains up and the momentum is strong. |
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Crude Oil – Crude Oil Recoups Losses in Afternoon Trading
The price of crude oil took minor losses during early morning trading yesterday, as euro-zone news led to risk aversion among investors. After falling by almost $1 a barrel to trade as low as $89.26, the commodity was able to bounce back to the $90.70 level by the end of the European session.
Today, investors will want to pay attention to US news. Any better than expected data could lead to speculations that demand in the US will increase, which could help oil extend yesterday’s upward movement.
Disclaimer The analysis we provide is based on the average estimate of price movements in one day. Does not guarantee what we deliver is actually a proper and correct. Everything that happens in the decisions you make on your trading transaction is to be Your responsibilities. Visit Us www.deryworldscorp.web.id
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